price support
The maintenance of a price level through government intervention
Credit
An arrangement to receive cash, goods, or services now and pay for them in the future.
Alfred E. Smith
The Democratic U.S. presidential candidate in 1928, who ran against republican candidate Herbert Hoover
Dow Jones Industrial Average
index is made up of 30 large-cap stocks and is used to measure the performance of the equity market.
speculation
involvement in risky business transactions in an effort to make a quick or large profit.
buying on margin
the purchasing of stock by paying only a small percentage of the price and borrowing the rest
Black Tuesday
a name given to October 29 1929, when stock prices fell sharply.
Great Depression
a period lasting from 1929 to 1940 in which the us economy was in severe of decline and millions of Americans were unemployed.
Hawley-Smoot Tariff Act
a law enacted in 1930 that established the highest protective tariff in US history worsening the depression in America in abroad.
shantytown
a neighborhood in which people live in makeshift shacks.
soup kitchen
a place where free or low-cost food is served to the needy.
bread line
a line of people waiting for free food
Dust Bowl
the region including Texas, Oklahoma, Kansas, Colorado, and New Mexico was made worthless for forming by drought and dust storms during the 1930s.
direct relief
the giving of money or food by the government directly to needy people.
Herbert Hoover
president during the great depression
Boulder Dam
now called the hover dam built during the great depression as part of a public works program intended to stimulate business and provide jobs.
Federal Home loan Bank Act
a law enacted in 1931, that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure.
Reconstruction Finance Corporation
an agency established in 1932 to provide emergency financing to banks, life insurance companies, railroads and other large businesses.
Bonus Army
veterans and their families who marched on Washington D.C in 1932 to demand the immediate bonus they had been promised for military service